WILL PREPARATION

WHAT SERVICE IS PROVIDED?

Your Will is the cornerstone of family financial security.  A Will allows you to name guardians for your children.  A Will permits you to give the assets of your estate to those loved ones and those causes that you believe are worthy and deserving of your faithful stewardship.

Roberts Wesleyan College , through its Office of Planned Giving, provides general information and assistance regarding to effective ways to carry out one’s financial and stewardship objectives.  The College Planned Giving representative will assist you in gathering and organizing the information for your Will.  He will then forward the information to the attorney of your choice for the preparation of the document(s).

This process normally conserves your time and the attorney’s.  Information is available about wills, living trusts, life income-retirement planning, and other innovative methods for planning.  However, neither Roberts Wesleyan College nor its Office of Planned Giving representative provides services deemed “the practice of law.”  One should use a competent lawyer of one’s own choosing for drawing Wills, for example.  If you have no attorney, the College Planned Giving representative can suggest several competent lawyers from whom you may choose.

The Office of Planned Giving stands ready to assist you and your attorney with general and technical information.  Begin by requesting a confidential appointment with the College Planned Giving representative.  The process will be explained during the appointment.  Often, it is unnecessary to meet directly with your attorney unless that is your preference, or the attorney’s. 

WHAT COST MAY I ANTICIPATE?

One incurs no cost when utilizing the services of the Office of Planned Giving and its representative.  It is requested that you notify this office regarding the date the documents you have requested are signed or that some other action has been taken.

The attorney you select, in most instances, has an established fee schedule for his services.  Fees vary with attorneys.  For example, attorneys typically charge between $100 and $200 for a basic Will.  If you do not have an attorney, this office is prepared to suggest the names of two or three competent attorneys from which you may select.  In many instances we can also provide you with fee schedule information for these referral attorneys.  Please inquire

HOW DO I GO ABOUT INCLUDING MY FAVORITE CHARITY?

Great satisfaction is derived through the process of planning the distribution of one’s estate through a Will. You can thoughtfully plan testamentary gifts to your family, friends, and causes you believe in. The Office of Planned Giving is especially equipped to be supportive and discreet in these matters. Do inquire. Your interests are our priority.Great satisfaction is derived through the process of planning the distribution of one’s estate through a Will. You can thoughtfully plan testamentary gifts to your family, friends, and causes you believe in. The Office of Planned Giving is especially equipped to be supportive and discreet in these matters. Do inquire. Your interests are our priority.

You may wish to give consideration to making a testamentary gift to Roberts Wesleyan College and/or other institutions (college, church, or other nonprofit agency). The following is a suggested format of a statement that may be included in the residue section of your Will:

I direct that _____% of my residuary estate be given to the following charitable organizations (where one has a spouse, this can occur upon the death of the second spouse):

A.     __________________________________ - ____%

B.     __________________________________ - ____%

C.     __________________________________ - ____%

SUMMARY

Your Will is a statement of your desires for the distribution of your possessions and the care of your family after your death.  Your Will should be reviewed as your circumstances change.  It can be revoked easily.  Yet a Will may be the most important document you ever sign.  Here are some suggestions of what to be thinking about:

Decide on the person you wish to have serve as your executor or executrix.  In simple estates, a husband often serves for his wife and vice versa.  Also, select an alternate executor.  An executor is very important because he or she is the one who carries out your wishes for your estate.  In some states it is required that an executor must be a resident within the state.  You may name co-executors if you wish.

Determine the size of your estate.  This is important to know as you and the attorney consider possible estate tax consequences.  Make a brief inventory of all your property including real estate, vehicles, furnishings, saving accounts, investments, etc.  Do not forget to include the face value of your life insurance policies.  Estimate the total value of all these assets after deducting all liabilities.

Remember that the whole process is about implementing your intentions (your Will) for your estate once you are gone.  What items, amounts, or percentages do you want to give to people? Generally, personal property such as furniture, clothing, etc., goes to children or other relatives.  Frequently, it is best to give a person a percentage of your residuary estate rather than to name a certain amount.  However, almost any method of distribution you decide on can be used.

Enjoy peace of mind once you have your Will in place for many years to come.  It’s a good feeling to have one’s house in order.


Office of Planned Giving
Roberts Wesleyan College
2301 Westside Drive
Rochester, New York 14624-1997
1.800.777.4792 or 1.585.594.6505

To inquire further on our Will preparation service, click here: PlannedGiving@roberts.edu.